POTATO MARKET FIRM

Sun (Auckland), Volume III, Issue 643, 20 April 1929, Page 12

POTATO MARKET FIRM

POSITION IN CANTERBURY Press Association CHRISTCHURCH Friday. Notwithstanding that the Auckland market is fully supplied with potatoes, there is quite a firm demand here. This ts due mainly to the fact that a few oversellers have had to look round to cover their operations. Farmers are offering very sparingly. Their belief in the outlook for good prices is based on the fact that as digging proceeds a good deal of blight has been revealed. It would be wrong to suggest that the trouble so far indicates a material effect on the yield, but it is enough to firm holders’ ideas. The Katoa, which sails to-day, will take a cargo of about 3,000 sacks for Auckland. Business has been done in “prompts" at £5 10s, f.0.b.. s.i., and the same for May-June (Lyttelton), and at £6 10s to £6 12s 6d for July-September. Prices to farmers are £4 ss. The recent shipment of onions from Lyttelton to Sydney is expected to arrive to-day or to-morrow. The cablegrams state that £l3 10s was realised for New. Zealand onions offered the other day, as against £lO 10s to £ll 11s made by the main offering of the shipment. Victorians at the same market made £l2, which indicates that the New Zealand shipment must have been of good quality. Another shipment will be made from Lyttelton early next month, and this may be expected to be the final one. Current quotations are £4 15s to £5 a ton, on trucks. There is not much activity in the milling wheat market, and quotations remain at 5s 8d on trucks for Tuscan. Fowl wheat is offering forward for May-September at 5s 9d, f.0.b., with no buyers. Prompt fowl wheat is worth 5s Bd. There is no life in the oats market. A grade Gartons are quoted at Ss 51d for prompt and B’s at 3s 2d; spread delivery at }d more. The present is an absolutely “off” season for small seeds. There is no change to record in recent quotations. OF INTEREST TO INVESTORS KENT’S BAKERIES, LTD. An issue of 7} per cent, debenture, stock and 10 per cent, participating preference shares is announced by the brokers for Kent’s Bakeries, Ltd. The company has been formed to take over, as a going concern and free of all liabilities, the old-established bakery business of Geo. Kent and Sons, Ltd. The net profit for the year ending March 31, 1929, was £1,185 more than required to cover a 10 per cent, dividend on the preference share issue, after allowing for the Interest on the debenture issue and for the payment of income tax. Further details regarding this investment are contained in an announcement in the advertising columns of this issue. PARKINSON’S ELECTRICAL EQUIPMENT Messrs. A. and T. Burt, Ltd., announce that they have. been appointed sole New Zealand agents for the well-known Crompton Parkinson British electrical equipment.

CONSOLS AND COLONIAL STOCKS (Australian and N.Z. Press Association) Reed. 11.15 a.m. LONDON, Thursday. April 18 April 11 Consols 55 2 6 55 5 0 Funding Loan 88 5 0 88 0 0 Brit. War Loan, 5 p.c. 102 17 6 102 12 6 Conver. Loan, 3} p.c. 77 5 0 77 10 0 Com. Australia, 5} p.c. 1922-27 98 6 3 98 17 6 Ditto, 6 p.c., 1931-41 101 10 0 101 10 0 N.Z., 4 p.c., 1929 .... 98 18 9 99 0 0 Ditto, 3} P.c., 1940 .. S 6 17 6 86 15 0 Ditto, 3 p.c., 1945 .. 77 17 f. 77 12 6 Ditto, 6 p.c., 1936-51 105 5 0 105 5 0 DALGETY AND COY., LTD. Advice "was received by the Auckland office of Dalgety and Co., Ltd., yesterday that the directors of the company had declared' an interim dividend of 7s a share. This is equal to a rate of 14 per cent per annum. The dividend is payable on May 17. MINING NEWS HAURAKI.—The manager reports: The connection between the rise from the 400 ft level and the drive from the Tangye winze in the Union Beach section has been effected. Six pounds of rich specimen stone were obtained at a point 30ft seaward of the junction with the Cross reef where the first gold was obtained in this section. The No. 2 pass was being put in and when cutting out for a bearer this gold was found. A block 100 ft in length is nearly ready for stoping, and it is expected to have the passes completed this week, when stoping will be commenced. The unwatering of the new portion of the Hauraki shaft below the 400 ft level is in progress. The broken timbers have been repaired for 20ft and the chains of the bailing tank that were the cause of the damage are just showing .above water. When this is removed it is expected that the rest of the shaft w'ill be clear.

WELCOME FOR BISHOP

MAORIS GATHER AT OTAKI Press Association OTAKI, To-day. Bishop Bennett arrived here last night and to-day was given a warm welcome by the natives, who have congregated here from all parts. To-morrow' the bishop will hold special services in the native church.